The UK Financial Reporting Council (FRC) has published its plan and budget for 2026-27, laying out the five major projects it will pursue over the next year.
UK FRC 2026/27 projects:
- Reviewing and modernising enforcement processes and procedures
- Evolving supervisory approach to promote system learning and a resilient audit market
- Future proofing operational effectiveness by replacing and streamlining systems
- Pursuing a programme to support SMEs
- Advancing innovation, quality and market resilience, including capacity building for smaller firms
The regulator consulted on its workplan at the end of last year. It noted broad support from respondents for the projects it proposed.
FRC CEO Richard Moriarty stated: “This is a key year of delivery for changes to the FRC’s regulatory approach to ensure it is match fit for the future – and another year of keeping headcount flat.”